By ESPNSTAR.com staff
Former Liverpool manager Kenny Dalglish came under fire last season after the six new players he signed for £100 million failed to impress as Liverpool slumped to eighth place in the Premier League.
Rodgers is aware of the inflated financial landscape in the footballing world and having worked in small clubs like Watford and Swansea, knows that finding value for money is paramount.
He was quoted as saying on The Telegraph: "There's no doubt I want to get the best players I possibly can, and that costs money.
"When you're not in the Champions League there is a restriction in terms of what you can spend and I know that. I was fully understanding of that before I came in.
"In professional and social life, I like to get value. That is just my nature and just my upbringing.
"I won't pay 'anything at all costs' - absolutely not. If there is a player out there who can make a difference, we will do all that we possibly can to bring him to the football club.
"What I won't be prepared to do is waste time, money and effort to bring in a player who won't add value to the club. There have to be certain factors to make a player want to come and play for you. Unfortunately for people, money distorts the reality."
The financial issue is especially important now especially with many clubs paying players too much and end up on the losing end.
"You may think (insolvency) will never happen to your club," he added, "But who would have ever thought that could happen to a team like Glasgow Rangers? But, listen, if football continues to pay the wages that some clubs do, then you will be asking for it."
Rodgers explained that he wants players who believe in the cause of the club, not the cause of money, especially with the legacy behind Liverpool's history.
"I prefer the hungry player - those that want to succeed," he said, "Of course they will earn good money, and they will get their value and worth if they perform. I would rather work that way."
"I am very much conscious on the value and worth of players. There's no doubt there are top players who have earned every single penny they get, but you can also get certain types of players for less.
"When players come here, it should be the beginning, absolutely. If you look at the history of the club, it is about hungry players, coming in from the lower leagues, from clubs in Scotland and Ireland, and working their way up.
"That has been the ethos of the club - talent aligned with hard work takes you a long way. I just want to maintain that spirit within the club. I like to think I practice it myself in the club.
"I find it difficult to work with players who don't share and match that."
The Northern Irishman believes that signings should work by getting players to develop at a club, instead of having developed players coming to the club.
"The problem sometimes is there's a snobbery towards players at a lesser club. It's an ignorance.
"You get scouts at a big club who see a young player and think maybe he can't play. Then he will go to a big club and all of a sudden they want him. It's about making those decisions earlier.
"Look at the squad here, and there aren't too many who have dropped from heaven to play for Liverpool. A lot have come through lower clubs, made their way and now they are making their name at Liverpool."
Liverpool have now spent £26 million for Fabio Borini and Joe Allen in the summer.